Member Info for havealot

EBITDA positive is for the Blackbird division i.e. excludes the Elevate division. Cash burn of £0.25m per month gives 12 to 15 months before cash raising becomes an issue. That would not be a problem if Elevate was showing signs of growing traction. There is no evidence for that, as there has been negligible paying user growth over the last three months after 50% attrition. They need 20000 paid users to break even!

Unfortunately, they have grossly underestimated the time and cost of developing and bringing to market a new product of this kind. If I am interpreting the numbers correctly, after taking account of attrition, they have barely increased their paid users since the beginning of June i.e. increased from 325 to 344. This company is in a death spiral.

I cannot believe that plastics producers are not aware of Symphony's products after all these years. Seems like a jolly to me. The reasons for the lack of adoption are lack of political will not industry ignorance.

This initiative is going nowhere until customers can be found for the product in the US.

Intil this company shows cash flow positive is being achieved on a continuing basis this share price is going nowhere no matter what they project/promise.

Mikey

They never said they were cash positive overall. However I agree with your comments otherwise. The number of paid users is not increasin at a rate they expected. Consequently they need to increase marketing effort earlier than planned. Hence the raise now. At least that is my interpretation.

Going to need about 20000 paid users to break even on cash flow. This will take in excess of 4 years at current rate of increase in numbers. No wonder they are raising funds now. In fact user numbers don't quite add up unless there has been some wastage or convenient rounding up! 100 at 1/3/25 to 163 at 1/5/25 is only 63 in March and April.

Takeover of Seeing Machines is a non stater simply because other potential Teir 1 cupstomers would not take kindly to Seeing being owned by one of their competitors. Any takeover would have to be by a company outside the auto industry IMO.

Agreed. Despite saying they would use these numbers to monitor progress, they still are not disclosing them.

It would be nice to see small steps in this direction eg growing monthly and weekly users. .

You will not get the details from the radar image that you will get from the visual system. Millimeter radar will identify movement and passenger presence but not much more than that with any degree of certainty. Probably would not distinguish between a large dog and a small child for example.

This company have been dispensing cash like confetti for years. Only now when they are up against the wall ie facing potentially huge dilution, are they attempting to cut costs. How the CEO has managed to keep his job defeats me.

'In the RNS (4th March 2025) and the subsequent Investor Meet Presentation the following day, IM specifically stated a change to how they were going to report user metrics. Gone was the term ‘users’, of which there were 40,000 at one point, replaced with ‘active users’ - weekly and monthly. 1,337 weekly and 2,223 monthly active users were reported, for the week ending 2nd March.'

Then why have they not reported current MAU and WAU figures.

Does anyone understant these metrics? Seems to be obfustication. What we really need to know is the number of paid up users. This information is not given.

HaveAGood Day

The market does not believe cash breakeven will occur when the Company is predicting. Who can blame the market's scepticism on past management record of not meeting deadlines. This share is currently priced for more dilution.

What is more important is the number of paying customers. Since 12th March results when we were informed that they had 100 paying customers. Since then we have been given no new information. It is a big worry to me that all has hone quiet. Surely if progress was going to plan, they would be teleasing regular user update figures.

CFO down £70k in last 12 months. Hardly knows what he is doing.

'Revolutionary skin cancer vaccine fast-tracked for NHS patients'. DNA vaccine known as iSCIBI+......etc.

The only winners out of this debacle will be the current board ie Requisition group . Long term shareholders will be wiped out with dilution which was to be expected.

This what we pay CEO's massive salaries for, great insight. US stocks have been overpriced for some time, why move to NASDAQ now! You couldn't make it up.